Colyton students win trip to US
PUBLISHED: 08:01 12 May 2019 | UPDATED: 08:58 15 May 2019
Grammar school team will get to ring the New York Stock Exchange bell to begin trading
Teams from Colyton Grammar School have taken the top two spots in the national Student Investor Challenge - ahead of 9,369 other contenders.
The winning team RIJJED - comprising Year 10 students Josh Quinn-Rice, Jared Lee, Robin Fang and Isaac Pilling - is the youngest ever to win the contest.
Their reward was an all-expenses paid trip to New York where they will be interviewed by CNBC, will ring the bell to open trading on the New York Stock Exchange, and have their picture on the big HSBC screen in Times Square.
Runners up were The Default Skins, a team of Colyton Granmmar School boys from Year 13 - Josh Lim, Ollie Truman, Ben Johnson and Archie Murray.
The challenge, which is run by financial education body The London Institute of Banking and Finance, seeks to engage young people with the world of finance through a trading game. The competition runs from October to May each year.
Jonathan Shields, head of economics at Colyton Grammar, said: "Both teams took this competition very seriously and wowed me with their research and hard work in seeking out value in shares. Thankfully, the market agreed with them and both of their portfolios soared.
"Then in the national final, they both delivered a master class in personal financial awareness that belied their youth."
Head teacher Tim Harris added: "We are immensely proud of our students' achievements, and our congratulations go to them and to Mr Shields for this outstanding result. For a state school to gain the top two spots in a national competition which has traditionally been dominated by schools from the independent sector is truly commendable."
Alison Pask, managing director of Financial Capability and Community Outreach at The London Institute of Banking and Finance, said: "We run this competition to reach out to young people from different communities and engage them with the world of finance. Children need to know how the finance sector works, the impact it has on their lives now and in the future, and how to manage money well. We also want to help young people understand that a career in finance can be 'for them' regardless of their background.
"Colyton Grammar School should be very proud of their achievement: two teams in the final, coming first and second is unheard of. Impressive!"